Westpac plans Bank of Melbourne revival
(10 March 2010 – Australia) Westpac has dug into the archives and is reviving its former Bank of Melbourne brand, which will replace all St George banks in Victoria.
The bank said that over the next five years it will grow Bank of Melbourne to over 100 branches and corporate banking centres and 300 ATMs.
Fourteen of the new branches are expected to open throughout 2011, including branches in Fitzroy, Richmond, Carnegie, Forest Hill, Point Cook, as well as the Melbourne CBD.
A statement released by the bank said that a Victorian leadership team that makes decisions on products, services and pricing locally, combined with a Victorian call centre will underpin Bank of Melbourne’s commitment to the State and its local communities.
The expansion under the Bank of Melbourne brand is expected to create up to 800 new jobs in Victoria.
Investment involved in launching the Bank of Melbourne, including establishing the infrastructure to support the new bank, is expected to be around A$90 million with A$26 million spent to date.
"Bank of Melbourne is an exciting initiative and one we believe will be embraced by St George Bank customers in Victoria and Victorians in general, said Scott Tanner chief executive, Bank of Melbourne.
"Our customers and the market have told us that they want a local bank, one that is really engaged in the local communities in which it operates. Bank of Melbourne will be that bank – a bank whose heart and soul is in Victoria - that tailors its products and services to meet the needs of the local Victorian people and local Victorian businesses," Mr Tanner continued.
Planning is well advanced for the launch of Bank of Melbourne.
"I am delighted to announce that Peter Lock has been appointed Bank of Melbourne Chief Operating Officer. Peter has been a mainstay of our St George business here for the last eight years and is highly regarded by staff and customers," Mr Tanner added.
Elizabeth Proust has been appointed Chairman of Bank of Melbourne and together with Carol Schwartz, Peter Hawkins, Rob Chapman and Scott Tanner makes up the board of the new bank.
Fourteen of the new branches are expected to open throughout 2011, including branches in Fitzroy, Richmond, Carnegie, Forest Hill, Point Cook, as well as the Melbourne CBD.
A statement released by the bank said that a Victorian leadership team that makes decisions on products, services and pricing locally, combined with a Victorian call centre will underpin Bank of Melbourne’s commitment to the State and its local communities.
The expansion under the Bank of Melbourne brand is expected to create up to 800 new jobs in Victoria.
Investment involved in launching the Bank of Melbourne, including establishing the infrastructure to support the new bank, is expected to be around A$90 million with A$26 million spent to date.
"Bank of Melbourne is an exciting initiative and one we believe will be embraced by St George Bank customers in Victoria and Victorians in general, said Scott Tanner chief executive, Bank of Melbourne.
"Our customers and the market have told us that they want a local bank, one that is really engaged in the local communities in which it operates. Bank of Melbourne will be that bank – a bank whose heart and soul is in Victoria - that tailors its products and services to meet the needs of the local Victorian people and local Victorian businesses," Mr Tanner continued.
Planning is well advanced for the launch of Bank of Melbourne.
"I am delighted to announce that Peter Lock has been appointed Bank of Melbourne Chief Operating Officer. Peter has been a mainstay of our St George business here for the last eight years and is highly regarded by staff and customers," Mr Tanner added.
Elizabeth Proust has been appointed Chairman of Bank of Melbourne and together with Carol Schwartz, Peter Hawkins, Rob Chapman and Scott Tanner makes up the board of the new bank.
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